Three Step Plan to Profit
The secret to being a great chef is building great recipes, and while a master chef can certainly do his or her best to make a bad recipe better, there’s no way around the fact that adding more ingredients to an already bad recipe does nothing but make more bad food. The same is true of business. If you have a profitable and well-oiled business, it’s easy to make it grow – you just keep doing more of what you’ve been doing to make it great. You double the recipe. But if you have a bad business, and you want [Read More]
Your numbers are screaming at you, are you listening?
Your numbers are trying to tell you something. When was the last time you had a good look at your numbers? Was it when you had a meeting with your Accountant last year, was it when you had to get your numbers ready to give to your bank, or when you sat down with your book keeper last month? Your financials are vital to get you bank finance, and they are vital to keep you out of trouble with the tax office. But the most important aspect of financial statements(Profit & Loss Statement and Balance Sheet) is to give you [Read More]
How to Double Profit without Doubling Debt
One of the greatest daily struggles of a small business owner is having to walk the fine line between paying the bills and investing in future growth. Many times, business owners look at their sales charts and see profit going up, but they don’t see their cash flow situation getting any better. They are making more money, but still not having any more to spend! So how does that happen? Well, what we have is a problem not necessarily with overspending, but with cash flow management. In order to grow, a business needs to be able to spend more cash, [Read More]
